Adobe Systems (ADBE) Price Target Raised to $193.00 at Barclays
Adobe Systems (NASDAQ:ADBE) had its price objective boosted by Barclays to $193.00 in a research report released on Friday morning. They currently have an overweight rating on the software company’s stock.
A number of other analysts have also recently commented on the company. JMP Securities boosted their price target on Adobe Systems from $170.00 to $210.00 and gave the stock an outperform rating in a research report on Friday. BMO Capital Markets boosted their price target on Adobe Systems from $187.00 to $205.00 and gave the stock an outperform rating in a research report on Friday. Jefferies Group boosted their price target on Adobe Systems to $205.00 and gave the stock a buy rating in a research report on Friday. KeyCorp reaffirmed a buy rating on shares of Adobe Systems in a research report on Thursday. Finally, Bank of America reaffirmed a buy rating and issued a $220.00 price objective (up from $213.00) on shares of Adobe Systems in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $183.35.
Adobe Systems (NASDAQ:ADBE) traded up $2.51 during trading on Friday, reaching $177.51. The company’s stock had a trading volume of 8,845,867 shares, compared to its average volume of 2,660,000. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $88,760.00, a PE ratio of 49.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. Adobe Systems has a fifty-two week low of $101.91 and a fifty-two week high of $186.27.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. equities analysts forecast that Adobe Systems will post 4.66 EPS for the current year.
In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The disclosure for this sale can be found here. Insiders sold a total of 14,849 shares of company stock valued at $2,554,091 in the last quarter. 0.38% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ADBE. CENTRAL TRUST Co increased its stake in Adobe Systems by 13.9% in the 2nd quarter. CENTRAL TRUST Co now owns 4,340 shares of the software company’s stock worth $614,000 after buying an additional 528 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its holdings in shares of Adobe Systems by 342.4% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 9,034 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 6,992 shares during the last quarter. Aviance Capital Partners LLC boosted its holdings in shares of Adobe Systems by 18.3% during the 2nd quarter. Aviance Capital Partners LLC now owns 9,438 shares of the software company’s stock valued at $1,335,000 after purchasing an additional 1,462 shares during the last quarter. Parkwood LLC bought a new position in shares of Adobe Systems during the 2nd quarter valued at about $480,000. Finally, Montecito Bank & Trust bought a new position in shares of Adobe Systems during the 2nd quarter valued at about $486,000. Institutional investors and hedge funds own 87.45% of the company’s stock.
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Adobe Systems Company Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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